During the past week, trading activity in the local Turkish hot rolled coil (HRC) market has slowed down due to the approaching Feast of Sacrifice holiday (Sept. 12-15), with demand for Turkish producers’ HRC products now at weak levels. Turkish HRC producers’ prices, which had increased by $12.5/mt on average last week, have remained stable this week at $420-435/mt ex-works.
Meanwhile, demand in the local Turkish HRC spot market has remained at low levels during the past week and buyers are postponing their purchases ahead of the holiday. In this context, local traders’ HRC prices have remained stable over the past week. Trading activity in the market is expected to improve slightly after the holiday, and it is thought that this will support an upward revision of traders’ prices, according to market sources.
The domestic sales prices of traders for local and imported hot rolled flat steel products in the Eregli and Gebze regions of Turkey are as follows:
| Product | Price ($/mt) |
|
|
| Eregli | Gebze |
| 2-12 mm HRC | 440-460 | 450-470 |
| 1.5 mm HRS | 480-500 | 495-515 |
| 2-12 mm HRC (for large tonnages) |
| 420-430 |
| 3-12 mm HR P&O | 480-500 | 500-530 |
The above prices are ex-warehouse and for advance payments, exclusive of 18 percent VAT.